Tornado Cash Votes Against Treasury Diversification Proposal

Tornado Cash Votes Against Treasury Diversification Proposal

The Tornado Cash neighborhood was needed to vote on a proposal for treasury diversification, which specified that TORN-v-1 tokens would be cost wETH. After 5 days of ballot, 68% of almost 173k TORN holders voted against the proposal.

Tornado Cash is a procedure developed to blend a user’s crypto with a swimming pool, permitting users to send out crypto utilizing their own wallets and get it through various addresses.

The governance vote was on a proposal to crowdsale 50,000 secured TORN-v-1 for ETH at a 20% discount rate through a limitation order on 1inch.

This crowd sale would have had a TORN/ETH rate of 0.008. These tokens would have been secured in governance for one year (365 days) prior to being withdrawn at a 1:1 rate for TORN coins.

Voter turnout in the “ayefda” proposal provided to the neighborhood was more than 200% up from the previous governance vote.

Recently, liquid staking provider Lido released a brand-new governance proposal in which the neighborhood was asked to vote on restricting Ethereum staking on the procedure.

Compiled by Coinbold.

5/5 - (100 votes)